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Financings

Elemental increases credit facility to $200M (U.S.)

By The Northwire Desk — AI Analysis Mar 02, 2026 · 18:57 ELE · 32.07 Elemental Royalty Corporation
ELE · Price

Executive Summary

  • Elemental Royalty Corp. has amended and upsized its existing revolving credit facility to a total capacity of $200 million (US), consisting of a $150 million base facility and a $50 million accordion feature.
  • The transaction was led by National Bank Capital Markets and CIBC, with National Bank of Canada acting as administrative agent, and lenders including Scotiabank.
  • The facility matures on February 27, 2029, and is intended to provide financial flexibility to support future accretive royalty and stream acquisitions.

Key Details

  • Facility Size: $150 million (US) revolving credit facility with an option to increase by $50 million (US) via an accordion feature, bringing the total potential capacity to $200 million (US).
  • Maturity Date: February 27, 2029.
  • Term: Three years, extendable through mutual agreement between Elemental and the lenders.
  • Lenders: National Bank of Canada (NBC), Canadian Imperial Bank of Commerce (CIBC), and Bank of Nova Scotia (Scotiabank).
  • Arrangers/Agents:
    • Administrative Agent: National Bank of Canada (NBC).
    • Sole Bookrunner: National Bank Capital Markets.
    • Co-Lead Arrangers: National Bank Capital Markets and CIBC.
    • Syndication Agent: CIBC.
  • Interest Rates: Drawn amounts are subject to interest at SOFR plus 2.25% to 3.5% per annum, depending on the company's leverage ratio.
  • Fees: Undrawn portion is subject to a standby fee of 0.50% to 0.78% per annum.
  • Purpose: To solidify the company's financial foundation and provide headroom to support further accretive royalty and stream opportunities.
  • Previous Facility: The amendment applies to the currently undrawn facility of $50 million (US).

Notable Quotes

  • "Upsizing our credit facility represents a strong vote of confidence from our banking partners at NBC, CIBC and Scotia, and reflects the momentum of our business following a transformational year in 2025, which included our merger and our listing on Nasdaq. This expanded capacity enhances Elemental's strong cash position and financial flexibility, and provides additional headroom to support more material future transactions." — Stefan Wenger, Chief Financial Officer
Read the original news release →

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